AllBright-advised Kersen IPO Application is given the green light by Main Board Public Offering Review Committee of CSRC2016-12-142926
On December 14, 2016, the initial public offering and listing application of Kunshan Kersen Science & Technology Co., Ltd. (“Kersen” or the “Company”) as advised by AllBright lawyers has been approved upon examination and verification on the 184th executive meeting of 2016 of the Main Board Public Offering Review Committee of China Securities Regulatory Commission. The Company proposes to make public offering of no more than 52,666,700 new shares and go listing on Shanghai Stock Exchange.
Kersen is a high-tech enterprise specialized in manufacturing precision metallic components, which are mainly used in terminal products in such fields of consumer electronics and medical and surgical instruments as represented by smartphones and tablet devices. The Company establishes cooperation relationship with Jabil Circuit and Foxconn and other international renowned customers in consumer electronics, and at end-customer level, the Company is the supplier of Apple Inc., SONY, Lenovo, LETV and other international well-known mobile manufacturers. The mute button, volume buttons, lens adapter, Wi-Fi chip components, fingerprint identification keypads, cell phone cases, smartband cases, smartband USB flash disk, data line interface, tablet base plate and other precision parts produced by the Company account for nearly a third of the global shipments of iPhone and IPAD of Apple Inc. The Company is also a vendor for Johnson & Johnson, Covidien, Zimmer and other international renowned medical instrument clients. The precision medical instruments produced by the Company, for example, surgical instruments for vascular cutting and closure, surgical instruments for MIS & laparoscopy, tissue fusion and opening instruments, scalpel clamping protective tubes, ultrasonic scalpel expanding tubes, bone nail, instruments for intestinal anastomosis and surgical generator, are widely used by all kinds of medical institutions in the world. The comprehensive competitive power of the Company ranks top in the industry.
In 2015, the sales revenue of the Company exceeded RMB1 billion and the net profits of the Company reached nearly RMB200 million.
The legal team consists of senior partner LI Hejin, associates LIU Shengjun, CHEN Yufei, GU Yingying, ZHANG Dongxiao and LIU Pan and legal assistants LING Sheng, WU Shuang and DONG Siliang accepted Kersen’s engagement to provide all-sided high-quality professional legal service for Kersen’s IPO and listing.